Trust Management

TRUSTS

Trust Management

We offer a full Trust Management Service whether we act as Trustees or as advisors to the Trustees. This includes the preparation of annual capital and income accounts, tax returns by our ‘in-house’ Chartered Accountant, or management with the appointed financial advisor or stockbroker of the Trust Portfolio. We can advise on possible distributions from the Trust, transactions during the lifetime of the Trust and variations of its terms, including the tax consequences of such actions.

There are various different types of trust:

A) Discretionary Trusts

These can be set up during lifetime or on death. The most common use of the Discretionary Trust, until the pre-budget changes in 2007 was to save Inheritance Tax. However, it is also used to protect money/assets in cases of a minor or someone who is disabled or vulnerable in society. We have very wide experience in advising parents of disabled children and dealing with the affairs of those who lack mental capacity

B) Charitable Trusts

Should you wish to make a gift to a registered charity

C) Life Interest Trusts

To protect children and/or surviving spouse and mitigate the expense of nursing home fees

D) Bare Trusts

Often for grandchildren

E) Personal Injury Trusts

To protect a vulnerable person